Moving and Retirement
A New Reverse Mortgage Product and NCOA's Use Your Home to Stay at Home Booklet:
With a new FHA Home Equity Conversion Mortgage Program (known as HECM), one of the biggest upfront fees that borrowers are expected to pay will be almost eliminated. But The New York Times article, Changes on Reverse Mortgages Will Alter Fee Structure, warns that the "ongoing monthly insurance premiums will rise drastically". more »
Working in Retirement: A 21st Century Phenomenon
Already today, one in five workers aged 50 and older has fully retired from his or her former career job but currently is working for pay in a new role, which we define as a "retirement job." And this will soon become the "new normal" — fully 75% of workers aged 50 and older expect to have retirement jobs in the future more »
Thought You'd Receive Social Security Benefits at 65? Were You Born After 1938?
Full retirement age (also called "normal retirement age") had been 65 for many years. However, beginning with people born in 1938 or later, that age gradually increases until it reaches 67 for people born after 1959. more »
Bernanke: "The crisis should motivate economists to think further about their modeling of human behavior"
"The profound uncertainty associated with the 'unknown unknowns' during the crisis resulted in panicky selling by investors, sharp cuts in payrolls by employers, and significant increases in households' precautionary saving." more »